Despite the COVID-19 social distancing measures in place, the Parkes property market remains business as usual, with strong confidence in the rural and regional sector ensuring enthusiasm for the industry has not been dampened.
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Despite open houses being banned, agents can still host onsite inspections as single appointments with social distancing being maintained, while virtual inspections are becoming increasingly popular.
The government has declared that people can still move houses and hire removalists, while there is now a six month moratorium on evictions for residential and commercial rental tenancies for those suffering from COVID-19 related financial distress.
Ray White Parkes Principal Tracie Robertson was full of enthusiasm when discussing the current nature and future prospects of the local property market.
"For the local property market, it is business as usual. Hysteria is doing more damage than anything else.
"The list of properties may be contracting, but this actually increases prices as there are more buyers than sellers at the moment," Tracie says.
The new clampdown on foreign investment has done nothing to shake confidence in the rural property sector; with low interest rates, high agricultural demand and strong investment opportunities encouraging local interest.
"The local rural market remains unaffected by COVID-19 and the new foreign investment laws, with many investors realising the value investing in rural and regional NSW presents," says Tracie.
The Ryder Report, which researches trends and future predictions for the property market, has recently released a report and webinar extolling the virtues of buying into regional market. Cheaper prices, higher net yield and long-term growth mean now more than ever is the time to be investing in regional NSW while our cities are in free fall.
